Bank of Baroda car Loan Interest Rates

Bank of Baroda car Loan Interest Rates

It has been a long and eventful journey of almost a century across 25 countries. Starting in 908 from a small building in Baroda to its new hi-rise and hi-tech Baroda Corporate Centre in Mumbai, is a saga of vision, enterprise, financial prudence and corporate governance.

It is a story scripted in corporate wisdom and social pride. It is a story crafted in private capital, princely patronage and state ownership. It is a story of ordinary bankers and their extraordinary contribution in the ascent of Bank of Baroda to the formidable heights of corporate glory. It is a story that needs to be shared with all those millions of people – customers, stakeholders, employees & the public at large – who in ample measure, have contributed to the making of an institution. 

 

Baroda Car Loan

In today’s fast paced world, a vehicle is but a necessity. Yet other expenses and plans in life take priority and the dream of owning a car takes a back seat. Whether as a comfortable and dependable means of transport or as a status symbol in society, we believe you deserve ownership of a vehicle.

The Car Loans from Bank of Baroda are designed to finance the car that suits your need and matches to your status & taste.

Bank of Baroda also presents a unique add on facility for installation of CNG / LPG gas-kit in new/old (not more than 3 years) four wheeler. Save money. Save earth. Convert to alternative fuel today and bank on us for your financial requirements.

Key Benefits

  • Loans available up to Rs 100 Lacs for any car make/model (Inclusive of Gas-Kit).
  • Loans can be availed for new and second-hand vehicles (Not more than 3 years old).
  • Repayment period as long as 7 years.
  • Low interest rates.

More Benefits

  • Low processing fee.
  • Zero prepayment charges
  • Concession of 0.5 % in rate of interest to those who offer minimum 50% liquid security as collateral.
  • Additional concession of 0.25% in interest rate to existing Home Loan borrowers having good track record of repayment.

Terms & Conditions

  • To qualify as an applicant for this loan, you need to be an employee or a director of a public limited company, businessman, professional, proprietor / partner in a firm or a Govt employee and HNIs / Corporates..
  • The maximum loan amount is Rs. 100 Lakhs, or twice of your gross annual income if you are salaried, and thrice of it (average of last 2 years gross annual income) if you are a businessman, whichever is lower.
  • Maximum loans upto Rs 0.25 lac available for installation of CNG/LPG Gas-Kit in new/old (not more than 5 years) four-wheeler, if taken separately.
  • Repayment :New Vehicles : 84 months.
    Second hand vehicles : 36 months.
    CNG/LPG Gas-Kit : 24 months. (If loan sanctioned is only for Gas-Kit)
  • Margin :

For loans upto Rs. 15 lacs:
New Vehicles : 15% on road price of car
For loans over Rs. 15 lacs:
New Vehicles : 20%on road price of car

  • Age :Minimum – 21 years
    Maximum – present age + repayment period should not exceed retirement age in case of salaried person and 65 years in case of others.

RATE OF INTEREST:

Baroda Auto Loan
Baroda Car Loan/ Baroda Car Loan to HNIs / Corporate w. e.f 01.07.2013
Repayment period upto 5 yearsBase Rate + 0.25% i.e. 10.50% p.a. at present (irrespective of tenure)
Repayment period > 5 years

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